EU Summit Produces Too Little Too Late

Details emerging out of an EU summit have disappointed equity markets as the EU would rather apply direct aid and use bond creation as an anti dote. The world wants a fire wall and a colossal amount of fire power through bond issuance to stem the problems.

Worries of a $LEH style failure are now on the table as the world does not trust the EU to respond quickly enough to put out fires and contain possible contagion.

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